Mack-Cali Revenues Up 11% in Q4

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CRANFORD, NJ-Following on the heels of its announcement last week that it has a deal to acquire most of the assets of the rival Gale Co. for $545 million, Mack-Cali Realty Corp. today released its financial results for Q4 2005 and the full year. For Q4, net income available to common shareholders was $14.4 million or 23 cents a share, compared to $30.3 million, or 49 cents a share a year earlier. For the year ended December 31, 2005, net income was $93.5 million, or $1.51 a share, off slightly from $100.5 million, or $1.65 a share, for 2004.

Total revenues for Q4 were $163.3 million compared to $149.1 million a year earlier, an increase of 9.5%. And for the year ended Dec. 31, total revenues were $643.4 million compared to $577.7 million the previous year, an increase of 11.4%.